We discuss the properties of two distinct forms of hypothetical strange
matter, small lumps of strange quark matter (strangelets) and of hyperon matter
(metastable exotic multihypernuclear objects: MEMOs), with special emphasis on
their relevance for present and future heavy ion experiments. The masses of
small strangelets up to A = 40 are calculated using the MIT bag model with
shell mode filling for various bag parameters. The strangelets are checked for
possible strong and weak hadronic decays, also taking into account multiple
hadron decays. It is found that strangelets which are stable against strong
decay are most likely highly negative charged, contrary to previous findings.
Strangelets can be stable against weak hadronic decay but their masses and
charges are still rather high. This has serious impact on the present high
sensitivity searches in heavy ion experiments at the AGS and CERN facilities.
On the other hand, highly charged MEMOs are predicted on the basis of an
extended relativistic mean-field model. Those objects could be detected in
future experiments searching for short-lived, rare composites. It is
demonstrated that future experiments can be sensitive to a much wider variety
of strangelets.Comment: 26 pages, 5 figures, uses RevTeX and epsf.st